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The rich get richer and the poor get poorer. I’m not sure not sure you can expect this to change anytime soon. Fund flows into emerging markets last week broke a three week downtrend with new inflows.

The good news is that dedicated funds actually continue to get more inflows while ETFs see the typical indiscriminate selling that accompanies market volatility. Dedicated money mangers in EM have received 68% of the flows this year. The bad news is that the BRICs continue to have a stink around them, and crowded markets like the Philippines (NYSEARCA:EPHE), Mexico (NYSEARCA:EWW), South Africa (NYSEARCA:EZA), Taiwan (NYSEARCA:EWT) and Indonesia (NYSEARCA:IDX) continue to see increasing allocations.

Net inflows year-to-date: Total GEM funds have benefited from $28.6 billion of inflows this year compared to $51.3 billion of inflows in 2012. On a cumulative basis, $218 billion has flowed into GEM funds since January 2006.

Source: GEM Fund Flows: Easter Surprise - A Return To Inflows